Posts Tagged ‘local market monitor’
What are the most overvalued and undervalued housing markets in the country? The Local Market Monitor recently released a list for investors analyzing buying conditions for real estate markets in the United States.
Overall, Las Vegas was a city they flagged as the worst — or “frankly dangerous,” as they referred to it. They said the city is not only one of the most undervalued housing markets in the country but is also considered one of the worst housing buys. Orlando, Fla., was another city the Local Market Monitor considered a bad investment city.
Las Vegas’ median home price is less than $145,000–a drop of more than half in its median home price since its housing peak days. The Local Market Monitor says Las Vegas is also nearly 30 percent less than what would be considered fair market value. Both Las Vegas and Orlando have been plagued with high inventories of homes due to overbuilding from a few years ago, and also are two of the hardest hit areas for foreclosures.
Here’s a list of the most overpriced housing markets and the percentage they are overvalued by, according to the report:
- Nassau-Suffolk, N.Y.: 26% ($418,416 median home price)
- Los Angeles: 24% ($368,056 median home price)
- Portland, Ore.: 24% ($240,912 median home price)
- Anaheim, Calif.: 23% ($449,396 median home price)
- Edison, N.J.: 20% ($286,900 median home price)
Here is a list of the top 5 most undervalued markets:
- Las Vegas: -27% ($144,636 median home price)
- Akron, Ohio: -22% ($155,673 median home price)
- Cleveland: -21% ($154,674 median home price)
- Warren, Mich.: -21% ($111,114 median home price)
- McAllenn, Texas: -20% ($131,871 median home price)
Source: “America’s Most Overvalued – and Undervalued – Cities,” CNNMoney.com (Jan. 10, 2011); blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee
Written by kbargers
January 12, 2011 at 8:37 am
Tagged with akron, america's most overvalued and undervalued cities, anaheim, bargers solutions, blog, buying conditions, cleveland, cnnmoney.com, edison, home buying, home selling, kenneth bargers, las vegas, local market monitor, los angeles, mcallenn, Nashville, nassau, orlando, overpriced housing market, portland, real estate markets in the united states, residential real estate services, suffolk, tennessee, undervalued housing market, warren
10 Markets Most Likely to Appreciate
Forbes magazine turned to real estate research firm Local Market Monitor to figure out which markets have the greatest likelihood of price appreciation because they offer a mix of jobs weighted toward growth industries.
These are the top markets, the research company concludes:
- Raleigh-Cary, N.C.
- McAllen-Edinburg-Mission, Texas
- Austin-Round Rock, Texas
- Nashville-Davidson-Murfreesboro-Franklin, Tenn.
- San Antonio, Texas
- Colorado Springs, Colo.
- Albuquerque, N.M.
- Denver-Aurora-Broomfield, Colo.
- Springfield, Mo.
- Indianapolis-Carmel, Ind.
Source: Forbes, Francesca Levy (09/13/2010)
Written by kbargers
September 14, 2010 at 1:20 pm
Tagged with albuquerque, aurora, austin, bargers solutions, broomfield, carmel, cary, colorado, colorado springs, davidson county, denver, edinburg, forbes magazine, Francesca Levy, Franklin, growth industries, home buying, home selling, indiana, indianapolis, jobs, kenneth bargers, local market monitor, mcallen, mission, missouri, murfreesboro, Nashville, new mexico, north carolina, price appreciation, raleigh, real estate appreciation, realtor, round rock, san antonio, springfield, tennessee, texas, top 10 real estate appreciation, top markets